Mary Fallin on Social Security

Republican

401k-style plan for OK Public Employees Retirement System

We should begin offering targeted salary increases to some state employees paid below market value.

We should reform our current pay system to one that rewards performance over time-served
Doing so will encourage better productivity and services.

And finally, new hires within the Oklahoma Public Employees Retirement System should be moved from an outdated, mid-20th century pension system and to the more portable and flexible
401k-style benefits used in the private sector. Businesses made this change a long time ago, recognizing that the old pension model didn't appeal to a today's more mobile workforce. It's time for state government to stop playing catch-up.
Moving to a defined contribution model helps us to modernize; allows flexibility for future public employees to take the money they have accrued with them if they change careers; and stabilizes the system for current public employees and retirees.